Vick Offering Bankruptcy Options

By: Associated Press
By: Associated Press

Monday Jan. 5, 2009
RICHMOND, Va. (AP) -- Michael Vick's lawyers have offered a plan that would require the former Atlanta quarterback to keep a court official informed about Vick's attempts to be reinstated by the NFL.

The plan was filed Monday in U.S. Bankruptcy Court in Virginia. A committee representing Vick's creditors endorsed the plan and wants creditors to vote to confirm it.

Vick says a disclosure statement that he expected to resume his career after serving his 23-month prison term for bankrolling a dogfighting conspiracy. His plan for paying his debts is based on earning a big salary.

Vick's major creditors complained last month that they have no assurance Vick would be able to achieve that goal. The revised bankruptcy plan includes a provision requiring Vick to provide the trustee overseeing liquidation of his assets with detailed information about his progress toward NFL reinstatement with the information to be kept confidential.

NFL Commissioner Roger Goodell would have to lift Vick's suspension for him to return. Then it's unclear whether a team would offer Vick a contract.

Vick is scheduled to be released from federal custody around July 20.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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